Dogecoin Whales Accumulate, SOL Hints at Consolidation as Market Takes a Breather

Bitcoin (BTC) and major cryptocurrencies fell over 3% as profit-taking followed Tuesday's rally.

Overall crypto market capitalization fell 3.3% in the past 24 hours, with BTC sliding to nearly $83,500 from a high above $84,200 a day earlier. Ether (ETH) and Cardanos ADA fell as much as 5% to lead losses among majors.

The cryptocurrency market added 8% over 7 days, stabilising at the $2.7 trillion level since Saturday.

FxPros Alex Kuptsikevich says a move higher could bolster hopes for further gains, but these expectations will “only be confirmed after a solid consolidation above the 200-day moving average, which is now near $2.97 trillion.”

“Bitcoin continues its cautious rise, trading above its 50-day moving average and reaching $85,700. This is an important technical attempt to reverse the downtrend. Interestingly, the 200-day average is quite close, so a second confirmation of a trend change could come quite quickly,” Kuptsikevich said, adding that bitcoin had entered a resistance accumulation zone where the strength of the initial rebound may fade.

Solanas SOL is showing strength in a downtrodden market, making it ripe for a move higher if overall conditions improve.

“Solana is recovering faster than many of the major altcoins, trading at its 50-day moving average near $130. A consolidation above this level will open the way to $145, the area of previous peaks. A sustained move above them will signal a break of the downtrend and could lead to a move towards $180,” Kuptsikevich noted.

On a more pessimistic approach, prominent market chartist Peter Brandt is not optimistic about bitcoin setting new highs in the current cycle.

“A trendline violation does NOT signify a transition of trend BTC Sorry,” the trader noted said in an X post in response to sentiment for a bullish rebound.

Lots of amateur chartists are noting this trendline.

Of all chart construction, trendlines are the LEAST significant. A trendline violation does NOT signify a transition of trend $BTC

Sorry pic.twitter.com/GpSBFMW5Aq

— Peter Brandt (@PeterLBrandt) April 15, 2025

Trendlines are a subjective price-action analyst method and less dependable than moving averages or key levels. A break, used in tandem with technical analysis, could hint at a change in movement.

Heres what AI-driven market insights for some majors look like on Wednesday.

Dogecoin Price Analysis as Whales Accumulate 800M DOGE

• Dogecoin whales have accumulated over 800 million DOGE in the last 48 hours, signaling potential confidence in the asset's short-term prospects, data shows.
• DOGE is currently trading at a critical juncture around $0.154-$0.155, with immediate resistance at $0.157 and crucial support at $0.153 that must hold to prevent further decline.
• DOGE experienced significant volatility, reaching a peak of $0.169 before entering a pronounced downtrend with lower highs and lower lows since April 14th.
• Support levels established around $0.155 have been repeatedly tested, with volume spikes coinciding with major price movements.
• The 48-hour Fibonacci retracement shows price currently hovering near the 0.618 level, suggesting potential consolidation before the next directional move.
• A sharp selloff occurred between 05:19-05:24, with price plummeting 1.1% in just five minutes on exceptionally high volume (15.3M in a single minute).
• The subsequent bounce formed a potential double bottom at $0.153, with price currently consolidating around $0.154.
• Volume analysis shows clear distribution before the drop and accumulation during the recovery attempt.

Solana Shows Consolidation

• Recent price action shows SOL navigating volatility as geopolitical factors create market uncertainty.
• Solana (SOL) experiences significant price volatility, consolidating between $125-$132 after a 13.7% surge from $119.59 to $136.01.
• Solana leads decentralized exchange (DEX) volumes, outpacing Ethereum for three consecutive days with $2.43 billion in trading activity.
• Recent trading shows SOL consolidating between $125-$132, with key support established at $125.25.
• Volume analysis reveals diminishing buying interest after the initial rally, suggesting market indecision.
• The 50-hour moving average at $129.80 now serves as a critical pivot point.
• Fibonacci retracement levels indicate potential support at $127.40 (38.2%) if current levels fail to hold.

Cardano Sees 8% Bellyflop in Volatile Session

• ADA experienced significant volatility, surging from $0.618 to a peak of $0.667 (8.0% range) before undergoing a substantial correction.
• Recent trading shows ADA consolidating between $0.605-$0.615, with increased volume during downward movements suggesting continued bearish pressure.
• Trading data reveals increasing volume during downward price movements, suggesting persistent selling pressure despite oversold conditions on 48-hour momentum indicators.
• While some accumulation appears to be occurring at lower levels, potentially forming a base for recovery, ADA now faces significant overhead resistance from the 200-hour moving average.
• The 200-hour moving average now acts as overhead resistance, reinforcing the bearish trend. 48-hour momentum indicators reveal oversold conditions, potentially offering short-term relief.
• Volume increased significantly during downward movements, confirming selling pressure.